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Copperbelt Minister, Elisha Matambo, has announced that President Hakainde Hichilema donated K20,000 to each of the five families affected by a recent accident at Macro Link Mine along the Ndola-Mufulira road.
Matambo disclosed this during a meeting with the families on Monday in Ndola.
The five victims were retrieved and buried at Mitengo.
Konkola Copper Mines Plc (KCM) has reportedly settled approximately K50 million owed to three councils on the Copperbelt: Chingola, Chililabombwe, and Kitwe.
Read more: KCM exits liquidation, as court terminates proceedings, reinstates board
KCM Chief Financial Officer, Manish Saxena, announced this during a media briefing in Chingola on Monday.
According to Saxena, the payments marked the start of settlements to local authorities and other creditors under the new creditors’ scheme of arrangement.
Chingola Municipal Council would receive K26,809,553, Kitwe City Council K14,958,653.96, and Chililabombwe Municipal Council K8,180,298.18.
Saxena said they were committed to settling its debts to Class 1 and Class 2 creditors.
He stated this would positively impact the financial health of various local councils and businesses awaiting their dues.
“KCM will expedite the payment process in accordance with the scheme of arrangement guidelines, ensuring all creditors are compensated without unnecessary delays,” Saxena assured.
He highlighted this as a significant moment for KCM and its parent company, Vedanta Resources Limited, as they work to fulfill their financial obligations and strengthen relationships with key stakeholders.
Chingola Town Clerk Namukolo Kalufyanya expressed optimism about KCM’s revival, noting it signifies prompt payments of outstanding dues for retirees, statutory obligations, and service provision.
“This is the beginning of good things to come,” Kalufyanya stated.
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